Unless their clients can’t help you, they may have to research new sources for leasing. Most brokers already have a list of contacts and lenders, so they will usually have a perfect fit for your company from day one. Brokers represent their client to close the deals. The application process can be lengthy for each company.Ī broker will reduce the time it takes to apply for lenders, research the best options, and negotiate terms.It takes too much time to compare different lenders to get the best lease terms.The lenders they reach out to can’t help them.Here are a few problems that businesses encounter when trying to lease equipment they need. This is one of the primary reasons that a company will use a broker/brokerage to expedite the process. This process has become convoluted with technical considerations and financial information, which can take time to process. (As of 2020, the retail industry became higher risk to lenders)īecause there is a measure of trust between a lessor and the lessee, many factors are taken into consideration to determine whether something can be leased. Anything retail or restaurant related.Some of these higher risk industries include: See if you already have lenders or contacts you’ve worked with before.Īlthough most industries will be easy to lease equipment to, a few industries remain a higher risk investment in the eyes of lenders.Do online research about different companies for equipment leasing.A broker has contacts for specific lending types and they can negotiate for you. Here are the fastest ways to get equipment leasing: Finding the right ones will determine how quickly and smoothly the leasing process will be.Īs long as you remember to communicate your needs and be involved with the leasing process, you will generally get the equipment you need.
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